Brazil, Morocco ink deals to boost investment

Brazil and Morocco are willing to warm up bilateral trade and boost investment in their economies. These are the goals of the agreements signed Thursday (Jun 13) by Brazilian chancellor Ernesto Araújo and Moroccan Minister for Foreign Business and International Cooperation Nasser Bourita.

With a deficit of $113 million in its trade with the African country from January to May, Brazil seeks to reverse this figure. The deals cover direct investment, air transport, cooperation between diplomatic agencies, defense, a lighter tax burden between the two nations, the exchange of agricultural technology and triangular commercial negotiations.

In transport, deals aim to increase the number of air connections between the two countries, stimulating tourism and the construction of hotel facilities.

Chancellor Ernesto Araújo hailed the deals as a tool to bolster bilateral dialogue and base policies on a solid legal foundation rather than “abstract ideas.”

Morocco’s ambassador to Brazil Nabil Abdhoghi described the agreements as “a legal milestone,” aimed at facilitating bilateral relations. “We must now build a cooperation framework between Brazil and Morocco and expand not just commerce, but also stimulate talks on investment and projects.”

Western Sahara

During the meeting, Minister Bourita asked for the support of the Brazilian minister for the Moroccan proposal to grant autonomy—but not independence—to the people in Western Sahara, a territory considered by the UN as non–self-governing territory. The Brazilian chancellor described the idea as “realistic” and worthy of being “welcomed” by the international community. The control over the territory is claimed by Morocco and liberation movement Polisario Front.